This Paper has won Consolation Prize in the CoolAvenues' Paper-writing Competition - "In Search of Excellence" - for the Year 2005.

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Abstract

"Successful branding programs are based on the concept of singularity. The objective is to create in the mind of the prospect the perception that there is no other product on the market quite like your product."

- Al Ries & Laura Ries

Indian advertising started with the hawkers who used to call out their wares right from the days when cities and markets first began. Since then, Indian advertising has metamorphosed into a strategic tool that enhances sales, siphons more profits and helps in the process of brand-building and product promotion. With this evolved a strategy that tried to benefit from the emotional attachment of the admirers or the fans of the celebrities; in the form of celebrity endorsement. It does help in creating instant awareness and visibility; but for a cost.

This paper tries to look beyond the obvious benefits that might be derived out of celebrity endorsement. It tries to understand the process of consumer psychology and impact of celebrity endorsement on the overall process of brand building. The in-depth study of various models brings to light the complexities pertaining to celebrity endorsement. Analyzing its success is as much a necessity as is the understanding of its need. The importance of celebrity management has been emphasized to realize success or failure in its true sense. A symbiotic model has been proposed to define: how to make celebrity endorsement a win-win situation for both the brand and the brand-endorser.

"Brand" is the most valuable asset of any firm. Any thoughtless adventure can be like the Sword of Damocles. It's the "strong idea" of promotion which is a more strategic means of brand-building; which can be an economical alternative over celebrity endorsement.

"It doesn't matter how new an idea is; what matters is how new it becomes."

- Elias Canetti

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* Contributed by -
Sohag Sarkar,
IBM Global Services (India) Pvt. Ltd.,
Bhopal (MP).